Monthly Archives: May 2015

In a correction statement that updates / deletes deductee rows, verification keys from deductee data that should match with corresponding fields in regular / previous return are – Last PAN, Last total amount deducted at source, Last total amount deposited

Updation / deletion on deductee record is submitted in a correction statement but this deductee record does not exist in previous/ regular return

Valid PAN to invalid PAN update is not allowed for a deductee row

Deductee detail record number should be unique in case of addition of deductees

If value of Reason for non-deduction / lower deduction / higher deduction / threshold field as per regular or last correction statement is ‘C’ , then update can be performed only on ‘PAN’, ‘Amount of Payment’ and ‘Date of Payment’

Deletion of deductee record having value C in Reason for non-deduction / lower deduction/ higher deduction / threshold field, is not allowed

Valid PAN to another valid PAN update can be done only once for a given deductee row

Accurate Reporting of data related to tax deductions/ collections made

Submission of TDS Statements within the due dates

Verification and Issuance of TDS Certificates within time

CPC (TDS) is now sending “Intermediate Default Communication” for PAN Errors and Short Payments, which can be corrected during the interim period of a week of filing TDS Statements, before CPC (TDS) proceeds with computing Defaults for the relevant statement.

User-friendly Online Correction facility can be used for Correction of Deductees, Tagging Unmatched Challans and Payment of Fees/ Interest. (Please navigate to Defaults tab to locate Request for Correction from the drop-down menu. For any assistance, please refer to the e-tutorial available on TRACES).

Aggregated TDS Compliance Report assists the PAN of the Deductor to administer TDS Defaults for associated TANs and to take appropriate action

The Deductor’s Dashboard provides you all necessary information to assist you in “Compliance Self-Assessment” and to take appropriate action.

Non-filing Self-declaration can be made by navigating to Statements / Payments menu and submit details under Declaration for Non-Filing of Statements.

PAN Verification and Consolidated TAN – PAN File facility on TRACES can be used for verifying the deductees.

The Conso Files and Justification Reports downloaded from TRACES help you to identify errors in submission of revised Quarterly TDS Statements.

This is a facility which can be availed by deductor in order to verify whether the PANs for which user is deducting TDS are getting the credit for the same or not. This feature is available for only those PANs for which TDS / TCS statement has been previously filed by the deductor.

For which period can I view the TDS / TCS credit?

In order to view TDS / TCS credit, deductor has to specify the Financial Year, Quarter and Form Type for the PAN. The period is restricted to the relevant quarter for which statement has been filed. This facility is available for statements filed since FY 2007-08.

What is the process of viewing TDS / TCS Credit?

Deductor must enter PAN, FY, Quarter and Form Type to see information for a particular PAN. ‘Statement Details’ table will be populated irrespective of whether PAN is present in the statement or not. This table provides information related to the statement pertaining to the input criteria selected by user. ‘Deductee Details’ table will be populated only if the PAN entered by user is present in the latest accepted statement for the input criteria selected. This table shows the status of booking for a PAN.

How to unmask data in ‘Deduction Details’ table?

Deductor can view masked data by clicking on ‘View Details’ and providing ‘TDS Certificate Number’ for that PAN. Token Number will not be unmasked.

An important information regarding TDS statement has been displayed at TRACES website which states as follows:

Considering peak statement filing time, processing of statements might take 7 to 10 working days from date of filing. 97.5% of the statements filed till 29th Apr 2015 have been processed for 26AS. Please wait for 24 hours after receiving a communication to submit Online Corrections at TRACES.